Fund administration firm Apex Group announced it will acquire 100% of Luxembourg fund tokenization startup Tokeny over a three year period. Apex participated in Tokeny’s 2022 funding round, and in December 2023 became its lead strategic investor. Stock exchange Euronext said it took a 23.5% stake in mid 2019.
“As a majority owner, Apex Group is enhancing its ability to deliver comprehensive, future-proof solutions to our clients,” said Peter Hughes, Founder and CEO of Apex Group. “Tokenisation is a foundational shift in how assets will be managed, distributed, and accessed. Our strengthened partnership with Tokeny is key to delivering on our vision to be the infrastructure provider in the digital era of finance.”
Blockchain offers benefits in fund administration by automating many processes using smart contracts. Additionally, there’s the appeal of permissionless blockchains helping to expand the target market of asset managers through fractionalization and their international reach. To date the tokenization of money market funds has started to gain early traction.
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